A whale entity identified as Garrett Jin sold 35,000 ETH after withdrawing the tokens from Binance the previous evening. The sale took place 10 minutes before the report at $2,500 per ETH, valuing the transaction at $87.5 million. Afterward, the entity added collateral to its ZEC short position (a bet on a price decline), lifting its liquidation price (the level that forces a position to close) from $2,631 to $4,738. The position currently has an unrealized loss of $30 million, according to on-chain analyst Ember, as reported by Odaily.